Historic Condo-ready business opportunity presently 20 unit retrofitted apartment building in excellent condition. Two units (upscaled) totally renovated with own laundry facilities.
There are two stand alone laundry facilities; one on each floor. The roof is pitch/membrane and tar and gravel. Bayfield less than 10 minutes away; Goderich less than 15 minutes.
Several golf courses within 15 minutes drive. Great retirement or vacation potential. Known to be one of the best buildings in the area. Most tenants are working professionals.
The building and units are one step aways from being condo's. All inspections and paperwork including zoning have been completed by the seller. A new owner can take that final step and start selling condominium units. An outside storage shed is included and another large storage building is available if needed.

Address :	123 East St. Clinton
Taxes (Yr) :	$0.00 (2010)
Lot Size :	114.42x442.83
Zoning :	R3-2

Commercial Assessment :	$944,500
Taxes (year) :	$14,414.20 (2010)
Zoning (specific) :	R3-2
Legal Description :	Pt 1 Pl.22R-5566;Lt.33,34,35,36,Pl35 1

Services :	Other (See Remarks), Storm Sewers, Sanitary Sewers, Natural Gas, Muni.Water, Electricity
Roof :	Other (See Remarks), Membrane, Asphalt, Pitch
Influences :	Other (See Remarks), Ample Parking
Restrictions :	Other (See Remarks)
Heating :	Other (See Remarks), Radiant, Forced Air
Power :	Other (See Remarks), 550 Volts
Fire :	Other (See Remarks), Smoke Detector
Rentals :	Other (See Remarks), Hot Water Tank
Construction :	Other (See Remarks), Brick
Exterior :	Other (See Remarks), Siding, Brick
Parking :	Other (See Remarks), Asphalt
Comm Ind Features :	Air Conditiona Partial, Ceiling Fans, Fluorescent Lights, Paved Yard, Security, Thermopane, Wheelchair Access
Multi Family Features :	Air Conditioning, Cable, Common/Residence, Dishwasher, Fridge, Intercom, Laundry Facility, Security, Stove, Wheelchair Access, Other (See Remarks)

Units :	20 units
Stories :	2
Parking Spaces :	44
Stoves Incl. :	22
Fridges Incl. :	22
Other :	see remarks

Heating Expenses :	2,324.00
Hydro Expenses :	17,986.00
Insurance Expenses :	6,494.00
Maintenance Expenses :	10,000.00
Management Expenses :	350.00
Properyt Tax Expenses :	14,339.00
Other Expenses :	5,151.00
Total Annual Expenses :	56,695.00

Other :

see remarks

Envir. 1,2 and 3 done- units heated by radiant electric commom areas heated by forced air natural gas. roof is 60yr. Sloped floating composite over tar and gravel. The seller has invested over $100,000 to bring the building to condo ready status. The small pavillion area on the south side of lot is leased from adjoining property for $75/month.
Includes 22 fridges and 22 stoves. For Condo-ization there can only be 20 units allowed. 2 units become common area.

Bob Hulley Sales Representative » View my Listings Office: 519-527-1577 Cell: 519-440-8602 ( web site ) ( email )